On January 1, 2021, Dunbar Echo Company sells a machine for…

On January 1, 2021, Dunbar Echo Company sells a machine for $46,000. The machine was originally purchased on January 1, 2019 for $80,000. The machine was estimated to have a useful life of 5 years and a residual value of $0. Dunbar Echo uses straight-line depreciation. In recording this transaction:

On January 1, 2021, Manzanita Manufacturing purchased a mach…

On January 1, 2021, Manzanita Manufacturing purchased a machine for $345,000 with an expected life of 5 years and a residual value of $37,500. In addition, the company paid delivery costs of $3,000 and$12,000 to have the machine installed. Manzanita uses the double-declining-balance method of depreciation. What is the depreciation expense for the first year using the double-declining-balance method?